What is a work sheet

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Question 1: What is a work sheet?

Question 2: What is the last step in the completion of a worksheet?

Question 3: Why accountants make a worksheet?

Benefits include:

  1. closing process
  2. Steps in closing process:

Purpose of closing process:

  1. When is the closing process performed?
  2. Temporary (or nominal) accounts
  3. Permanent (or real) accounts

The ten steps repeated in each accounting cycle are as follows:

  1. What accounts appear in the post-closing trial balance?
  2. What is a Classified Balance Sheet and what is it's purpose?

Reference no: EM132490455

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